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How to Enter a New Tenant properly into Tenant Tracking  (6min video for members)

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QUESTION From Ronald:

“Hello Mike, I purchased the Investor Books Pro System with Tenant Tracking. My computer crashed and I lost everything, I like to know what I can do to get back up and running….. Thank You, Ronald”

 

ANSWER from Mike:

Sorry about your tax time tragedy Ronald. 

In order to get everything up and running again, here is what I recommend.

  1. Ronald, if you are like most investors including me, we are tightwads, especially on computers. Odds are your computer that crashed is probably pretty old. Instead of trying to repair an 8 Track Tape version of a computer, go ahead and invest in a new decent laptop.
    — if you can get the crashed computer to run, even for just a few minutes, open your QB software and immediately make a back up to a USB flash drive for BOTH Investor Books and Tenant Tracking company files. This will SAVE Your Day Ronald.
  2. with your new laptop, you will need to install all of your software including QuickBooks PRO®. If you have been using QuickBooks Pro 2016 or older, go ahead and purchase QuickBooks PRO Desktop 2019. (I upgrade every 3 years in my business.
  3. After installing QB PRO, go find your QuickBooks “BACK UP” file – your back up files will have .qbb at the end of the file name. (.qbw is on your QB company files)
  4. Open your QuickBooks PRO and follow the instructions to “RESTORE” a QB company file. DO NOT Create a new company file.
  5. After restoring your QB backup company file and you have it up and running, hover on the “FILE” tab in upper left corner and select Create Backup – I schedule my backups to automatically happen every time I log out of my QB company file for both Investor Books Pro and the Tenant Tracking files.

“But Mike, I do not have any backup files…. ugh”

ALWAYS, Always set up automated backups of your Investor Books and Tenant Tracking company files.  Not only on your computer or external hard drive, but use an automated backup service like http://BlueRibbonBackUp.com to keep backups of ALL of Your Files in your computer and all external hard drives.

Ronald, do absolutely everything you can to find your QB files and backup company files. Otherwise, you will have to re-install your Investor Books and Tenant Tracking backup files. (follow the “restore” procedure) Remember Ronald, if this is your solution, you will be “starting over from scratch. You will have to enter your bank accounts, real estate owned, money borrowed, money loaned, your tenants and loan customers.

 

I hope this helps Ronald, let me know

 

 

 

P.S. Make sure you Grab Your Tax Time Special with 50% Off using promo code: “halfoffnow

 

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How to Create – Print or Email Statements
to Your Tenants or Loan Customers

2 min Video

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Happy New Year!

Yes, I know the new year is here already, but this 33 min video gives you HUGE jump for Tax Time Now.

Stay Tuned for the 7 Simple Steps to Make Your QuickBooks Pro Ready for Tax Time

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What Version of QuickBooks® Should You Get?

The Investor Books PRO System with Tenant Tracking

works only with QuickBooks PRO® Desktop version

No need to upgrade every year – maybe every 3 years or so

Watch Amazon and Walmart for Specials and Discounts of Up to 50% Off!

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Where to Enter Your Equity and Proper Use of CASH from Me

  • with a dose of Crazy Advice from an Incompetent CPA

 

Question from Cassandra:

Hi Mike, I’m really enjoying your QuickBooksForInvestors system!!

Here’s my question….

I have heard you say you don’t bother with the Owner Equity account cause you let your CPA deal with that.

From Mike

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How To Handle Two or More Tax Returns in Your Investor Books Pro Company File (Multiple Entities)

29 minute video shows you step by step

Anthony, this is an image below, it is not a video – it will never play

You Click The Link below this image to see the video

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How to Properly Enter

a $2,000 Earnest Money Check Paid to You

If You are a Licensed Real Estate Agent, You will deposit it into your Broker’s Escrow Account

QUESTION: 

Hey Mike,
I am doing a wholesale deal. I will be doing a double close on it.

I received a $2,000 non-refundable deposit (EM but paid directly to me).

How do I enter a transaction like this. I tried to look it up on the videos but the link is broken. Thanks for the help

I tried to look it up on the videos but could not find this one.

Thanks for the help

Anthony Cordova
Registered Active Single User License

7 min video

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